Consolidated Financial Report for Fiscal 2019
(The Fiscal Year Ended March 31, 2020 under Japanese GAAP)May 22, 2020
Asahi Broadcasting Group
Company Name:
Stock Exchange Listing: Tokyo Stock Exchange
Holdings Corporation
Securities Code: 9405
URL https://corp.asahi.co.jp/en/
Representative: Susumu Okinaka, Representative Director and President
Inquiries:
Hirokazu Ueda, Manager, Financial Affairs Division
TEL: +81-6-6457-5006
Scheduled Date of Ordinary General Meeting of Shareholders: June 23, 2020
Scheduled Date of Dividend Payment Commencement: June 24, 2020
Scheduled Date of Securities Report Filing: June 24, 2020
Preparation of Annual Supplementary Explanatory Materials: Yes
Annual Results Briefing Held: Yes (for institutional investors and analysts)(Figures are rounded down to the nearest million yen unless otherwise stated.)
1. Consolidated Financial Results for Fiscal 2019 (April 1, 2019 to March 31, 2020)(1) Consolidated Operating Results(Percentage figures show the year-on-year increase (decrease).)Profit attributable to
Net Sales
Operating Income
Ordinary Income
owners of parent¥ million%¥ million%¥ million%¥ million%
Fiscal 201982,9371.2
3,388 (20.5)
3,633 (20.9)
2,278 (39.1)
Fiscal 2018
81,986
1.2
4,262
0.3
4,591
1.2
3,742
39.0
Note: Comprehensive Income
Fiscal 2019: ¥817 million (-78.8%)
Fiscal 2018: ¥3,858 million (-9.3%)
Basic Earnings per Diluted Earnings
Share
per Share¥
Fiscal 2019
55.63
Fiscal 2018
91.55
(Reference) Equity in Earnings of Affiliates

Rate of return on
equityOrdinary
Income/Total
Assets

¥
%
—
3.5
—
5.9
Fiscal 2019: ¥— million
Fiscal 2018: ¥— million(2) Consolidated Financial Position
Total Assets
Net Assets
Equity-to-Asset Ratio¥ million¥ million%
March 31, 2020
114,786
69,091
56.8
March 31, 2019107,788
67,04960.5(Reference) Shareholders’ Equity March 31, 2020: ¥65,230 million
March 31, 2019: ¥65,223 million(3) Consolidated Cash FlowsNet Cash Provided By Net Cash Provided By Net Cash Provided By(Used In) Operating(Used In) Investing(Used In) Financing
Activities
Activities
Activities¥ million¥ million¥ million
Fiscal 2019
4,546
2,535
3,322
Fiscal 2018
3,286
(2,394)(53)

Operating
Income/Net Sales

%
3.3
4.4

%
4.1
5.2

Net Assets per Share¥
1,591.64
1,594.83

Ending Balance ofCash and Cash
Equivalents¥ million
26,643
16,239

2. Dividends
Ratio of
Dividends
to NetAssetsAnnual Dividend per Share
1Q-End2Q-End3Q-End Period-End

Total
Dividends

Total

PayoutRatio(Consolidated)(Consolidated)

¥

¥

¥

¥

¥

¥ million%%

Fiscal 2018
—
10.00
—
18.00
Fiscal 2019
—
9.00
—
9.00
Fiscal 2020————
(Forecast)
Note: Dividends for Fiscal 2020 are undetermined at this time.

28.00
18.00

1,145
737

30.6
32.4

1.8
1.1

—

—

3. Consolidated Financial Results Forecasts for Fiscal 2020 (April 1, 2020 to March 31, 2021)
Consolidated financial results forecasts are undetermined, owing to the difficulty of reasonably calculating financial
results forecasts at present as a result of the impact of the global spread of COVID-19. In future, the Company will
carefully examine the impact on financial results, and will promptly announce forecasts when it becomes possible todisclose reasonable forecasts.

* Notes(1) Changes in the number of important subsidiaries during the period: Yes(changes in specified subsidiaries resulting in a change in the scope of consolidation)
Newly added: Two companies (Company name: DLE, Inc., Pegasus Tech Ventures Company III, L.P.)(2) Changes in accounting policies, accounting estimates and restatements
1) Changes in accounting policies in accordance with changes in accounting standards, etc.: None
2) Changes in accounting policies other than 1): None
3) Changes in accounting estimates: None
4) Restatements: None
(3) Number of shares issued and outstanding (common shares)
1) Number of shares issued and outstanding as of March 31,
the period-end (including treasury shares)
20202) Number of treasury shares as of the period-end March 31,
20203) Average number of shares issued and March 31,
outstanding for the period
2020

41,833,000
shares850,078
shares40,956,135
sharesMarch 31,2019
March 31,2019
March 31,2019

41,833,000
shares936,032
shares40,878,494
shares* These consolidated financial results are outside the scope of audit by certified public accountants and audit
corporations* Explanation concerning the appropriate use of forecasts and other special instructions(Caution regarding forward-looking statements, etc.)
Consolidated financial results forecasts for fiscal 2020 are undetermined, owing to the difficulty of reasonably
calculating financial results forecasts at present as a result of the impact of the global spread of COVID-19.
The Company will hold a briefing for institutional investors and analysts (teleconference), scheduled for Friday, May
29, 2020. The document to be used at this briefing shall be published on the Company’s website at 10:00 a.m. on the
day of the event.

Supplementary Materials: Table of Contents
1.

Overview of Business Results, etc.

2(1) Overview of Business Results for the Fiscal Year under Review

2(2) Overview of Financial Position for the Fiscal Year under Review

3(3) Overview of Cash Flows for the Fiscal Year under Review

3(4) Future Outlook

4(5) Significant Events regarding Going Concern Assumptions

4

2.

Rationale behind the Choice of Accounting Standards

4

3.

Consolidated Financial Statements and Primary Notes

5(1) Consolidated Balance Sheet

5(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income

7(3) Consolidated Statement of Changes in Equity

9(4) Consolidated Statement of Cash Flows

11(5) Notes regarding Consolidated Financial Statements

13

4.

(Going Concern Assumptions)13(Segment Information, etc.)

13(Per Share Information)

16(Significant Events after Reporting Period)

16

Other Information

17(1) Changes to the Officers of the Company

171

1. Overview of Business Results, etc.
(1) Overview of Business Results for the Fiscal Year under Review
In fiscal 2019, which extended from April 1, 2019 to March 31, 2020, the Japanese economy continued to show steadycorporate earnings and employment trends, but prolonged U.S.-China trade friction and the global spread of COVID19 resulted in a persistent downturn, as with economies overseas.
Under these circumstances, net sales of the broadcasting field where the Asahi Broadcasting Group (the Group)
conducts its core business increased due to the addition of newly consolidated subsidiaries in addition to an increasein TV network sales and other factors despite a decrease in TV spot advertising sales. Net sales of the housing businesswere down due to a decrease in revenue from the advertising business and other factors. Net sales of the golf businessincreased due to an increase in registration fee income upon new membership recruitment and other factors.
As a result of these factors, the Group’s net sales for the fiscal year ended March 31, 2020 increased ¥950 million, or
1.2%, compared to the previous fiscal year and amounted to ¥82,937 million. From the cost standpoint, cost of sales
increased ¥1,496 million (2.8%) compared with the previous fiscal year, to ¥54,959 million. Selling, general andadministrative expenses increased ¥328 million (1.4%) compared with the previous fiscal year, to ¥24,588 million.
As a result of the above, operating income for the period decreased ¥874 million, or 20.5%, to ¥3,388 million, while
ordinary income totaled ¥3,633 million, a decrease of ¥958 million, or 20.9%. Additionally, while ¥1,837 million of
extraordinary income due to gain on sales of shares and gain on sales of real estate properties for business in the
housing business was recorded, ¥1,776 million of extraordinary loss due to loss on venue closing in the housingbusiness and impairment loss on goodwill, etc. was recorded.
As a result, income before income taxes were ¥3,694 million, a decrease of ¥797 million, or 17.8%, and profit
attributable to owners of parent was ¥2,278 million, a decrease of ¥1,464 million, or 39.1%.
Results by business segment are as follows:
Broadcasting BusinessIn the fiscal year under review, net sales in the broadcasting business totaled ¥69,605 million, up ¥1,054 million, or
1.5%, compared to the previous fiscal year. While TV spot advertising sales decreased, revenue increased due to theaddition of newly consolidated subsidiaries in addition to an increase in TV network sales on a robust performance bynationwide network programs. On the other hand, operating expenses increased 2.9% from the previous fiscal year,
due to an increase in cost of sales in conjunction with the new consolidation. As a result, operating income amounted
to ¥2,516 million, a decrease of ¥959 million, or 27.6%, from the previous fiscal year.
Housing BusinessIn the housing business, net sales amounted to ¥12,372 million, a decrease of ¥173 million, or 1.4%, compared withthe previous fiscal year. The principal factor was a decrease in revenue from the advertising business. Meanwhile,
operating expenses dropped 1.9% mainly from the effect of the closing of housing exhibition facilities in the previous
fiscal year. As a result, operating income amounted to ¥1,101 million, an increase of ¥41 million, or 4.0%, from theprevious fiscal year.
Golf BusinessNet sales in the golf business amounted to ¥960 million, an increase of ¥69 million, or 7.8%, compared with theprevious fiscal year. The principal factor was an increase in registration fee income upon new membership recruitment.
On the other hand, operating expenses rose 2.6% due to increases in selling expenses, labor expenses, and otherexpenses. As a result, operating income amounted to ¥72 million, an increase of ¥43 million, or 152.1%, from theprevious fiscal year.

2(2) Overview of Financial Position for the Fiscal Year under Review(Assets)
Total assets as of the end of the fiscal year under review were ¥114,786 million, ¥6,997 million higher than at the endof the previous fiscal year (March 31, 2019). This was attributable to an increase in cash and deposits in line with theissuance of bonds and new consolidations.
(Liabilities)
Total liabilities were ¥45,694 million, ¥4,956 million higher than at the end of the previous fiscal year. The principal
reason for the increase in liabilities was the issuance of bonds.
(Net Assets)
Consolidated total net assets came to ¥69,091 million, ¥2,041 million higher than at the end of the previous fiscal year.
This was mainly attributable to an increase in non-controlling interests due to the consolidation of DLE, Inc., MASH
CORPORATION, etc.
(3) Overview of Cash Flows for the Fiscal Year under Review
For the fiscal year under review, net cash provided by operating activities totaled ¥4,546 million. Net cash provided
by investing activities was ¥2,535 million, and net cash provided by financing activities came to ¥3,322 million.
Accounting for each of these activities, the ending balance of cash and cash equivalents stood at ¥26,643 million, an
increase of ¥10,404 million compared with the end of the previous fiscal year. In specific terms, cash flow activities
are presented as follows.
(Cash Flows from Operating Activities)
Net cash provided by operating activities was ¥4,546 million (an inflow of ¥3,286 million during the previous fiscal
year) due to the recording of income before income taxes and depreciation and amortization despite payment ofincome taxes.
(Cash Flows from Investing Activities)
Net cash provided by investing activities was ¥2,535 million (an outflow of ¥2,394 million during the previous fiscal
year) due to proceeds from sales of investment securities and other proceeds despite purchase of property, plant andequipment.
(Cash Flows from Financing Activities)
Net cash provided by financing activities was ¥3,322 million (an outflow of ¥53 million during the previous fiscal
year) due mainly to the issuance of bonds.

3

(4) Future Outlook
At present, it is extremely difficult to forecast when the spread of COVID-19 will recede, the status of recovery of
economic activity after the virus recedes, etc. For this reason, the Company has judged that it is difficult to calculate
consolidated financial results forecasts for fiscal 2020 in an appropriate and reasonable manner at present, andtherefore consolidated financial results forecasts are undetermined. In future, the Company will promptly disclose
consolidated financial results when it becomes possible to calculate forecasts in an appropriate and reasonable manner.
(5) Significant Events regarding Going Concern Assumptions
Not applicable.
2. Rationale behind the Choice of Accounting Standards
To sustain comparability of consolidated financial statements between periods as well as between companies, theGroup shall, for the time being, prepare consolidated financial statements under Japanese GAAP.

43. Consolidated Financial Statements and Primary Notes(1) Consolidated Balance Sheet(Millions of Yen)
March 31, 2019
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Short-term investment securities
Inventories
Income taxes receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery equipment and vehicles
Accumulated depreciation
Machinery equipment and vehicles, net
Tools furniture and fixtures
Accumulated depreciation
Tools furniture and fixtures, net
Land
Lease assets
Accumulated depreciation
Lease assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Software
Software in progress
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Long-term prepaid expenses
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Bond issuance cost
Total deferred assets
Total assets

5

March 31, 2020

16,337
13,550
200
5,114
312
2,345
(9)
37,852

27,04812,825
204
4,668
262
2,314
(15)
47,307

34,706(14,985)
19,721
20,289(14,609)
5,679
1,791
(1,243)548
10,769
38
(25)
13
1,104
37,83734,744(16,348)
18,396
21,701(15,630)
6,070
1,910
(1,417)493
10,363
108
(39)
69
1,551
36,944

1,167
105
109
1,381

1,195
144
22
122
1,485

18,406
73
1,479
8,571
2,196
(10)
30,716
69,935

17,299
108
1,086
8,255
2,310
(35)
29,02467,454

107,78824
24
114,786

(Millions of Yen)
March 31, 2019
Liabilities
Current liabilities
Current portion of long term loans payable
Current portion of bonds
Lease obligations
Accounts payable - otherAccrued expenses
Income taxes payable
Provision for directors’ bonuses
Provision for loss on venue closing
Other
Total current liabilities
Non-current liabilities
Long term loans payable
Bonds payable
Lease obligations
Net defined benefit liability
Long-term guarantee deposited
Deferred tax liabilities
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Remeasurements of defined benefit plans
Total valuation and translation adjustments
Subscription rights to shares
Non-controlling interests
Total net assets
Total liabilities and net assets

6

March 31, 2020

240
1
6,475
1,866
934
113
3,497
13,129

586
26
15
5,970
1,724
567
102
272
4,383
13,647740
17,092
7,487
1,049
1,239
27,60940,738

931
5,065
51
16,512
7,486
988
1,011
32,04745,694

5,299
5,775
53,241(470)
63,846

5,299
5,847
54,415(426)
65,135

3,018

1,941

(1,641)1,377
1,826
67,049107,788(1,846)94
0
3,860
69,091
114,786

(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income
Fiscal 2018
(April 1, 2018
to March 31, 2019)
81,98653,46328,522
24,2604,262

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest and dividends income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on disposal of non-current assets
Loss on investments in partnership
Loss on investments in silent partnership
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary loss
Loss on venue closing
Impairment loss
Loss on valuation of stocks of subsidiaries andaffiliates
Loss on sales of non-current assets
Special retirement expenses
Total extraordinary loss
Income before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

7(Millions of Yen)
Fiscal 2019
(April 1, 2019
to March 31, 2020)
82,93754,95927,977
24,588
3,388

269
113
383

247
165
412

8
19
14
12
54
4,591

20
8
49
64
25
168
3,633

52
23
76

1,089
747
1,837

-

943
566

70

19

106
176
4,491
1,369
(651)
718
3,773
31
3,742

167
80
1,776
3,694
1,222
371
1,594
2,099
(179)
2,278

Consolidated Statement of Comprehensive Income
Fiscal 2018
(April 1, 2018
to March 31, 2019)
3,773

ProfitOther comprehensive income
Valuation difference on available-for-salesecurities, net of tax
Remeasurements of defined benefit plans, net oftax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of
the parent
Comprehensive income attributable to noncontrolling interests

8(Millions of Yen)
Fiscal 2019
(April 1, 2019
to March 31, 2020)
2,099

(291)

(1,077)

376

(205)

84
3,858

(1,282)
817

3,827

995

31

(178)

(3) Consolidated Statement of Changes in Equity
Fiscal 2018 (April 1, 2018 to March 31, 2019)(Millions of Yen)
Shareholders’ equity
Capitalstock
Balance at the beginning of period
Changes of items during the period
Dividends from surplus
Profit attributable to owners ofparentPurchase of treasury stock
Disposal of treasury stock
Change of scope of consolidation
Change in treasury shares of parent
arising from transactions with noncontrolling shareholders
Net changes of items other thanshareholders’ equity
Total changes of items during theperiodBalance at the end of period

Balance at the beginning of period
Changes of items during the period
Dividends from surplus
Profit attributable to owners of parent
Purchase of treasury stock
Disposal of treasury stock
Change of scope of consolidation
Change in treasury shares of parent
arising from transactions with noncontrolling shareholders
Net changes of items other thanshareholders’ equity
Total changes of items during the period
Balance at the end of period

Capitalsurplus

5,299

Retainedearnings

5,754

49,780Treasury
stock
(500)

Total
shareholders’equity60,334

(817)

(817)

3,742

3,742
(0)
30

20

(0)
50
535

535

－
－
－

20

3,461

30

3,512

5,299

5,775

53,241(470)

63,846

Valuation and translation adjustments
RemeasureSubscription
Valuationrights todifference on ments of Total valuation
defined and translation
sharesavailable-forbenefit
adjustments
sale securities
plans
3,308
(2,018)1,290－

Noncontrollinginterests

Total net
assets

1,738

63,363
(817)
3,742
(0)
50
535
－

(290)

376

86

－

88

174

(290)
3,018

376
(1,641)

86
1,377

－
－

88
1,826

3,686
67,0499

Fiscal 2019 (April 1, 2019 to March 31, 2020)(Millions of Yen)
Shareholders’ equity
Capital stock
Balance at the beginning of period
Changes of items during the period
Dividends from surplus
Profit attributable to owners ofparentPurchase of treasury stock
Disposal of treasury stock
Change of scope of consolidation
Change in treasury shares ofparent arising from transactions
with non-controlling shareholders
Net changes of items other thanshareholders’ equity
Total changes of items during theperiodBalance at the end of period

Capitalsurplus

5,299

Retainedearnings

5,775

Treasurystock

53,241(470)(1,104)(1,104)

2,278

2,278
(0)
43

18

(0)
61
－

53

53
－

－

71

1,173

43

1,288

5,299

5,847

54,415(426)

65,135

Valuation and translation adjustments
RemeasureSubscription
ments of Total valuationrights todefined and translation
sharesbenefitadjustments
plans
3,018
(1,641)
1,377－

Valuationdifference on
available-forsale securities
Balance at the beginning of period
Changes of items during the period
Dividends from surplus
Profit attributable to owners ofparentPurchase of treasury stock
Disposal of treasury stock
Change of scope of consolidation
Change in treasury shares of parent
arising from transactions with noncontrolling shareholders
Net changes of items other thanshareholders’ equity
Total changes of items during theperiodBalance at the end of period

Totalshareholders’equity63,846

Noncontrollinginterests

Total net
assets

1,826

67,049(1,104)
2,278
(0)
61
－
53

(1,077)(205)(1,282)

0

2,034

752

(1,077)(205)(1,282)

0

2,034

2,041

1,941

(1,846)

94

0

3,860

69,09110

(4) Consolidated Statement of Cash Flows
Fiscal 2018
(April 1, 2018
to March 31, 2019)
Cash flows from operating activities
Income before income taxes
Depreciation and amortization
Impairment loss
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for loss on venue
closing
Increase (decrease) in net defined benefit liability
Interest and dividend income
Interest expenses
Loss (gain) on sales of property, plant and equipment
Loss (gain) on disposal of non-current assets
Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
Loss (gain) on investments in partnership
Loss (gain) on investments in silent partnership
Decrease (increase) in notes and accounts receivable trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade
Decrease (increase) in investment
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Proceeds from sales of short-term investment
securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Payments for asset retirement obligations
Purchase of investment securities
Proceeds from sales of investment securities
Proceeds from redemption of investment securities
Payments for investments in silent partnership
Proceeds from withdrawal of investments in silent
partnership
Purchase of investments in subsidiaries
Proceeds from purchase of investments in
subsidiaries resulting in change in scope of
consolidation
Payments of loans receivableCollection of loans receivable
Other, net
Net cash provided by (used in) investing activities

11(Millions of Yen)
Fiscal 2019
(April 1, 2019
to March 31, 2020)

4,491
3,031
－
－
(0)

3,694
3,223
1,076
40
(1)

－

272

(1,120)
(269)
8
(52)
19
(23)
70
14
－

(1,229)
(247)
20
(922)
8
(747)
19
49
64

(431)

1,248

(2,993)
509
－
928
4,181
344
(8)
(1,230)
3,286

624
(877)
(309)
(24)
5,983
262
(20)
(1,679)
4,546

(273)
273

(319)
323

1,400

－

(3,185)
563
(530)
(78)
(879)
227
－
－

(1,616)
1,720
(299)
(315)
(326)
874
800
(75)

－

10

－

(119)

－

1,597

(75)
10
152
(2,394)

(10)
14
279
2,535

Fiscal 2018
(April 1, 2018
to March 31, 2019)
Cash flows from financing activities
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from issuance of bonds
Redemption of bonds
Purchase of treasury stock
Cash dividends paid
Dividends paid to non-controlling interests
Repayments of lease obligations
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Beginning balance of cash and cash equivalents
Increase in cash and cash equivalents from newly
consolidated subsidiaryEnding balance of cash and cash equivalents

12(Millions of Yen)
Fiscal 2019
(April 1, 2019
to March 31, 2020)

1,000
(190)
－
－
(0)
(817)
(13)
(32)
(53)
839
15,076

140
(637)
4,972
(16)
(0)
(1,104)
(17)
(14)
3,322
10,404
16,239323－

16,23926,643

(5) Notes regarding Consolidated Financial Statements(Going Concern Assumptions)Not applicable.
(Segment Information, etc.)(Segment Information)
1. Description of Reportable Segments
The reportable segments of the Group are its constituent units for which separate financial information is available
and which are subject to periodic examination in order for the Board of Directors to determine the allocation ofmanagement resources and evaluate financial results.
The Group maintains three reportable segments with business activities undertaken primarily in the broadcasting,housing, and golf club business fields.
The broadcasting business comprises television, radio, and related broadcasting activities. The housing business ismade up of housing exhibition site operating and related activities. The golf club business includes golf club operating
activities.
2. Calculation Method of Measurements of Sales, Profit, Loss, Asset, Liability and Other Items for Each Reportable
Segment
The accounting treatment methods for reported business segments are generally the same as those for statements in“Significant Matters for the Preparation of Consolidated Financial Statements.”
Profit in the reportable segments is based on operating income. In addition, intrasegment revenues or transfers are
based on prevailing market prices.
3. Explanation of Measurements of Sales, Profit, Loss, Asset, Liability and Other Items for Each Reportable Segment
Fiscal 2018 (April 1, 2018 to March 31, 2019)
Reportable Segment
Broadcasting

Housing

Golf Club

Total(Millions of Yen)
Amounts
Recorded on
Adjustments Consolidated
Financial(Note 1)
Statements(Note 2)

Sales
Revenues from externalcustomers
Transactions with othersegments

68,55012,545890

81,986—

81,986

622

19

57

699

(699)

—

Total

69,172

12,565947

82,686(699)

81,986

Segment profit

3,475

1,060

28

4,564

(301)

4,262

Segment assets

62,851

14,595

10,76088,207

19,581

107,788

2,321

628

81

3,031

—

3,031

2,379

243

66

2,689

—

2,689

Other items
Depreciation
andamortization
Increase in property,
plant and equipment
and intangible assets

13Notes:1. Adjustments are outlined as follows:(1) The adjustment to transactions with other segments of negative ¥699 million represents the amount of
intrasegment transaction elimination.
(2) The adjustment to segment profit of negative ¥301 million represents the amount of expenses which do notbelong to any reportable segment, mainly regarding development of new business and market.
(3) The adjustment to segment assets of ¥19,581 million represents companywide assets which are not allocatedto the reportable segments of ¥19,823 million and negative ¥242 million as the amount of intrasegment
receivables and payables elimination.
Companywide assets are primarily cash and deposits and investment securities which do not belong to any
reportable segment.
2. Segment profit refers to operating income recorded on the consolidated statement of income.
3. Amortization and increases of long-term prepaid expenses are included in depreciation and amortization as wellas increase in property, plant and equipment and intangible assets.
Fiscal 2019 (April 1, 2019 to March 31, 2020)
Reportable Segment
Broadcasting

Housing

Golf Club

Total(Millions of Yen)
Amounts
Recorded on
Adjustments Consolidated
Financial(Note 1)
Statements(Note 2)

Sales
Revenues from externalcustomers
Transactions with othersegments

69,605

12,372960

82,937—82,937

531

19

55

606

(606)

—

Total

70,136

12,391

1,016

83,543(606)

82,937

Segment profit

2,516

1,101

72

3,690

(301)

3,388

Segment assets

69,072

15,063

10,89695,031

19,754

114,786

Other items
Depreciation
and
2,515
618
89
3,223
—
3,223
amortization
Increase in property,
plant and equipment
2,253
205
126
2,585
—
2,585
and intangible assets
Notes:
1. Adjustments are outlined as follows:(1) The adjustment to transactions with other segments of negative ¥606 million represents the amount of
intrasegment transaction elimination.
(2) The adjustment to segment profit of negative ¥301 million represents the amount of expenses which do notbelong to any reportable segment, mainly regarding development of new business and market.
(3) The adjustment to segment assets of ¥19,754 million represents companywide assets which are not allocatedto the reportable segments of ¥20,513 million and negative ¥758 million as the amount of intrasegment
receivables and payables elimination.
Companywide assets are primarily cash and deposits and investment securities which do not belong to any
reportable segment.
2. Segment profit refers to operating income recorded on the consolidated statement of income.
3. Amortization and increases of long-term prepaid expenses are included in depreciation and amortization as wellas increase in property, plant and equipment and intangible assets.

14

[Explanation of Impairment Loss on Non-Current Assets for Each Reportable Segment]
Fiscal 2018 (April 1, 2018 to March 31, 2019)
Not applicable.
Fiscal 2019 (April 1, 2019 to March 31, 2020)(Millions of Yen)
Corporate
Broadcasting

Housing

Golf Club

and

Total

Total

Elimination
Impairment
loss

423

653

—

1,076

—

1,076

[Explanation of Amortization of Goodwill and Unamortized Balance for Each Reportable Segment]
Fiscal 2018 (April 1, 2018 to March 31, 2019)
Not applicable.
Fiscal 2019 (April 1, 2019 to March 31, 2020)(Millions of Yen)
Broadcasting
Amortization
during the period
Balance at the endof the period

Total

Golf Club

40

—

—

40

—

40

22

—

—

22

—

22

15

Total

Corporate andHousing

Elimination

(Per Share Information)(Yen)
Fiscal 2019
(April 1, 2019
to March 31, 2020)

Fiscal 2018
(April 1, 2018
to March 31, 2019)
Net assets per share
Basic earnings per share

1,594.83

1,591.64

91.55

55.63

Notes:
1. Diluted earnings per share information has been omitted as there were no potential shares with a dilutive effect.
2. The basis for calculating basic earnings per share is presented as follows.
Fiscal 2018
(April 1, 2018
to March 31, 2019)

Fiscal 2019
(April 1, 2019
to March 31, 2020)

Basic earnings per share
Profit attributable to owners of parent (Millions of Yen)
Amount not attributable to common shareholders(Millions of Yen)
Profit attributable to owners of parent related tocommon stock (Millions of Yen)
Average number of common stock shares issued andoutstanding during the period (Thousands of Shares)
3.

3,742

2,278

—

—

3,742

2,278

40,87840,956The basis for calculating net assets per share is presented as follows:
March 31, 2019

March 31, 2020

Total net assets (Millions of Yen)

67,04969,091

Amount excluded from total net assets(Millions of Yen)

1,826

3,861

(Non-controlling interests)(1,826)(3,860)65,223

65,23040,89640,982

Net assets attributable to common stock as of the end of
the period (Millions of Yen)
Number of shares of common stock issued andoutstanding as of the end of the period calculated under
net assets per share (Thousands of Shares)(Significant Events after Reporting Period)
Not applicable.

164. Other Information(1) Changes to the Officers of the Company
Please refer to the “Notice of Changes in Personnel” announced on May 22, 2020. (Available in Japanese only.)

17